Nepal is aiming to meet its rising fuel demands by extending cooperation in the petroleum energy sector with India and exploring the possibility of another petroleum pipeline between the two countries.
The discussion on extending the network of petroleum pipeline was part of a Joint Working Group organised by the nations last week, IANS reported.
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During this meeting, India and Nepal discussed the future areas of cooperation in the petroleum energy sector.
According to the news agency, the existing Motihari-Amlekhgunj petroleum pipeline has become the ‘lifeline’ for Nepal for meeting the country’s energy requirements.
India and Nepal are now exploring to see if state-owned Indian Oil Corporation (IOC) could look at another petroleum pipeline that runs into the northern and eastern parts of India.
Organised via video conferencing, the meeting was attended by top government officials from the Indian side, including representatives from IOC, GAIL, and Hindustan Petroleum Corporation Limited (HPCL).
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By GlobalDataMeanwhile, the Ministries of Finance and Foreign Affairs of Nepal and Nepal Oil Corporation (NOC) attended the meeting from the Nepalese end.
IANS quoted an undisclosed public sector oil company official as stating: “A team of officials would soon visit Nepal to explore the possible routes for a new product pipeline. This would be followed by establishing feasibility studies before investment decisions are worked out.
“There is potential for expanding the pipeline network that would bring a lot of savings for the Himalayan country.”
In March 2017, Indian Oil signed a memorandum of understanding to supply petroleum products to NOC for a further five years.
